The National Transformation Program (NTP) is playing a major role in overcoming the challenges in the way of achieving the ambitious targets of Saudi Vision 2030, according to Thamir bin Abdullah Al-Sadoun, CEO of the NTP. He made the statement on the occasion of the launch of a report on the achievements of the NTP from the period of its inception — June 2016 — until the end of 2019.
The report pointed out that the Kingdom ranked first globally in business environment reforms, according to the Doing Business 2020 report issued by the World Bank Group. It highlighted the establishment of the National Competitiveness Center (Tayseer) in 2019 and the more than 400 reforms the Kingdom undertook for investors.
Saudi Arabia jumped from No. 141 in 2018 to No. 38 in 2019 in the global “Starting a Commercial Activity” index. The Meras comprehensive service centers were established to provide instant licenses and electronic services necessary for starting a business, and a number of regulations were put in place to develop the infrastructure for commercial business.
“This resulted in the Kingdom’s advancement to the 49th position in the global rankings, three positions ahead of the most developed countries on the United Nations Conference on Trade and Development (UNCTAD) indicator,” the report observed.
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Saudi Arabia jumped from No. 141 in 2018 to No. 38 in 2019 in the global ‘Starting a Commercial Activity’ index.
The NTP also contributed to raise the level of protection for investors through the issuance of new regulations on bankruptcy, the mortgage system and the commercial franchise system.
Al-Sadoun said the achievements are a result of the implementation of basic and digital infrastructure projects, and the involvement of various government entities in identifying the challenges and creating solutions and implementing them.
The report highlighted the Kingdom’s progress in the Corruption Perceptions indicator to reach 10th position among the G20 countries; the launch of the tourist visa, which resulted in the issuance of more than 350,000 visas during the last quarter of 2019; and a 20 percent decrease in road traffic deaths in 2018 compared to 2017.
The report also underlined the Kingdom’s commitment to digital transformation under the NTP, with the country ranking third globally in the deployment of 5G networks.